WCM Investment Management LLC Grows Position in Western Alliance Bancorporation $WAL

Key Points

• WCM Investment Management LLC has increased its position in Western Alliance Bancorporation by 5.4% during the second quarter, now owning approximately 0.21% of the company worth about $18.2 million.
• Insider Tim R. Bruckner sold 2,500 shares of Western Alliance at an average price of $83.91, representing a 9.17% decrease in his position.
• The company's recent quarterly earnings report revealed an EPS of $1.91, with analysts predicting an EPS of $9.05 for the current fiscal year.

WCM Investment Management LLC increased its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 234,809 shares of the financial services provider's stock after purchasing an additional 12,116 shares during the period. WCM Investment Management LLC owned approximately 0.21% of Western Alliance Bancorporation worth $18,226,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WAL. HWG Holdings LP purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter worth about $25,000. Tsfg LLC purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter worth about $58,000. National Bank of Canada FI boosted its stake in shares of Western Alliance Bancorporation by 22.7% during the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock worth $59,000 after purchasing an additional 141 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider's stock worth $129,000 after purchasing an additional 213 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares in the company, valued at approximately $2,077,527.69. The trade was a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.68% of the company's stock.

Western Alliance Bancorporation Trading Down 4.0%

NYSE:WAL opened at $78.80 on Thursday. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $8.70 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.59 and a beta of 1.35. The firm has a 50-day simple moving average of $85.92 and a 200-day simple moving average of $78.49.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The business had revenue of $718.00 million during the quarter. Equities analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were issued a $0.38 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.9%. Western Alliance Bancorporation's payout ratio is currently 19.97%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WAL shares. National Bankshares set a $118.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. TD Cowen began coverage on shares of Western Alliance Bancorporation in a research report on Thursday, September 25th. They issued a "buy" rating and a $118.00 price objective for the company. Royal Bank Of Canada boosted their price objective on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. DA Davidson boosted their price objective on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Cowen began coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, September 24th. They issued a "buy" rating for the company. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.14.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.

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